Global Water Resources Inc. (GWRS) Given $10.50 Consensus Price Target by Analysts
Global Water Resources Inc. (NASDAQ:GWRS) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Analysts have set a 1 year consensus target price of $10.50 for the company and are expecting that the company will post $0.04 earnings per share for the current quarter, according to Zacks. Zacks has also given Global Water Resources an industry rank of 77 out of 265 based on the ratings given to related companies.
Several research firms have commented on GWRS. Roth Capital reiterated a “buy” rating on shares of Global Water Resources in a report on Saturday, July 9th. Zacks Investment Research upgraded shares of Global Water Resources from a “hold” rating to a “buy” rating and set a $9.25 price target for the company in a report on Tuesday, August 2nd.
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In related news, Director William S. Levine bought 10,000 shares of the stock in a transaction dated Tuesday, October 11th. The stock was acquired at an average price of $7.81 per share, for a total transaction of $78,100.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William S. Levine bought 10,917 shares of the stock in a transaction dated Friday, September 30th. The stock was bought at an average price of $7.82 per share, with a total value of $85,370.94. The disclosure for this purchase can be found here.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada acquired a new stake in Global Water Resources during the second quarter valued at approximately $244,000. Schwab Charles Investment Management Inc. acquired a new stake in Global Water Resources during the second quarter valued at approximately $132,000. Diker Management LLC acquired a new stake in Global Water Resources during the second quarter valued at approximately $416,000. State Street Corp acquired a new stake in Global Water Resources during the second quarter valued at approximately $456,000. Finally, Spark Investment Management LLC acquired a new stake in Global Water Resources during the second quarter valued at approximately $231,000. Institutional investors and hedge funds own 14.52% of the company’s stock.
Shares of Global Water Resources (NASDAQ:GWRS) traded down 0.1502% during mid-day trading on Wednesday, hitting $7.7783. 910 shares of the stock traded hands. The company has a market cap of $149.13 million and a P/E ratio of 8.0024. The firm has a 50 day moving average of $7.91 and a 200 day moving average of $7.86. Global Water Resources has a 12 month low of $6.23 and a 12 month high of $9.18.
Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings results on Thursday, August 11th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.02 by $0.21.
The business also recently announced a monthly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 17th will be issued a $0.022 dividend. This represents a $0.26 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Thursday, October 13th.
Global Water Resources Company Profile
Global Water Resources, Inc is a water resource management company that provides water, wastewater and recycled water utility services. The Company owns and operates 16 water and wastewater utilities in strategically targeted communities in metropolitan Phoenix, Arizona. It serves more than 60,000 people in approximately 23,000 homes within its 378 square miles of service areas; 206 square miles have been certificated and are serviced by seven regulated operating subsidiaries.
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